Whining about Poor folks Making $250,000

I recently reviewed a whole slew of articles that made it look like those with adjusted gross incomes of only $250,000 were just average struggling Americans.

First if the higher tax rate kicked in at an adjusted gross income of $250,000 then really in the real world your income would probably be more like $300,000 or more, and in many cases very wealthy people get so much complicated tax benefits and ability to defer income that again, someone might really be worth tens or hundreds of millions but there adjusted gross income could be nothing at all.

I pulled the IRS own statistics for 2008 and find that:

Of 142 Million returns:

93 Million make less than $50,000
124 Million make less than $100,000 and these get one half of the nations income!
138 Million make less than $200,000

That is 96.8% of taxpayers make less than $200,000

And 96.8% of us get about 70% of the income.

The next 3.2 % of taxpayers earn over $200,000 and get about 30% of the income.

So each of us gets 3/4 piece of pie.

Each of them those earning 200,000-500,000 gets 10 pieces of pie.

Of course.... the top top 40,000 get 20,000 pieces of pie EACH, but they would much rather you talk about the poor folks earning a measely $250,000.

Enjoy your pie!